MicroStrategy Continues Bitcoin Buying Spree, Acquires 1,070 BTC for $101 Million
MicroStrategy, the business intelligence firm and largest corporate holder of Bitcoin, has continued its Bitcoin buying spree, acquiring an additional 1,070 BTC for approximately $101 million.
This latest purchase brings MicroStrategy's total Bitcoin holdings to 447,470 BTC, valued at over $44 billion at current market prices.
The company has been actively acquiring Bitcoin since 2020, and its latest purchase is part of its "21/21 Plan," which targets raising $21 billion in equity and $21 billion in fixed-income securities to fund further Bitcoin acquisitions.
Here are some additional details about MicroStrategy's Bitcoin purchase:
The company acquired the Bitcoin at an average price of $94,004 per coin.
The purchase was funded through the sale of 319,586 MicroStrategy shares.
MicroStrategy's Bitcoin yield reached 74.3% in 2024.
The company has spent approximately $27.7 billion to build its Bitcoin treasury.
MicroStrategy's market cap is trading at a significant premium to its Bitcoin net asset value.
